Royal Dutch Shell plc is simplifying its portfolio with an agreement to sell a minority interest in the Queensland Curtis liquefied natural gas (QCLNG) common facilities to Global Infrastructure Partners Australia for $2.5 billion.

Shell subsidiary QGC Common Facilities Company Pty Ltd. is selling a 26.25% stake in the QCLNG facility, which includes LNG storage tanks, jetties and operations infrastructure that service the production trains. Shell would remain the majority owner and operate the facility. State-controlled China National Offshore Oil Corp. has a 50% equity in Train 1, and Tokyo Gas has a 2.5% equity in Train 2. Those equity stakes are to remain unchanged after the transaction, which is subject to regulatory approval in Australia and expected to complete in the first...